SBS Consummates Sale of KDAY-FM and KDAI-FM

SBS Consummates Sale of KDAY-FM and KDAI-FM

Styles Media Completes $120 million Acquisition

COCONUT GROVE, Fla., Jan. 31 /PRNewswire-FirstCall/ -- Spanish Broadcasting System, Inc., ("SBS"; Nasdaq: SBSA) announced today the completion of its sale of radio stations KDAY-FM and KDAI-FM in Southern California to Styles Media for $120 million.

The transaction, announced in the third quarter of 2004, was officially consummated upon receipt of the final $65 million payment made by Styles Media, in accordance with contractual terms agreed to by both parties.

About Spanish Broadcasting System

Spanish Broadcasting System, Inc. is the largest Hispanic-controlled radio broadcasting company in the United States. Upon the completion of all previously announced transactions, SBS will own and operate 20 radio stations located in the top Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico, including the #1 Spanish-language radio station in America, WSKQ-FM in New York City, as well as 3 of the Top 4 rated radio stations airing the Tropical, Regional Mexican, Spanish Adult Contemporary and Hurban format genres and the highest billing Latino-formatted stations in each of the three largest U.S. Hispanic markets. The Company also produces live entertainment concerts and events throughout the U.S. and Puerto Rico. On July 13, 2005 the Company announced the acquisition of WDLP-TV, a full-power television station serving South Florida. The Company also operates LaMusica.com, a bilingual Spanish-English online site providing content related to Latin music, entertainment, news and culture. The Company's corporate website can be accessed at http://www.spanishbroadcasting.com/

Source: Spanish Broadcasting System, Inc.

CONTACT: Analysts and Investors, Joseph A. Garcia, Executive Vice
President, Chief Financial Officer & Secretary of Spanish Broadcasting System,
Inc., +1-305-441-6901; or Analysts, Investors or Media, Todd St.Onge of
Brainerd Communicators, Inc., +1-212-986-6667

Web site: http://www.spanishbroadcasting.com/

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